The consumer price index (CPI) is a fixed-weight index. It compares the price of a fixed bundle of goods in one year with the price of the same bundle of goods in some base year. Calculate the price of a bundle containing 150 units of food, 40 units of utilities, 200 units of unexpected expenses, and 30 units of leisure activities in 2015, 2016, 2017, and 2018. Year 2015 is the base year. Prices of these goods for the years 2015, 2016, 2017, and 2018 are given below. Food Utilities Good Unexpected expenses Leisure activities Quantity Consumed 150 40 200 30 Using the information above, calculate the following: The price of the bundle in 2015 is HKS 2015 Prices 2016 Prices HK$80 45 32 76 HK$86 62 38 81 (Round your response to the nearest dollar.) 2017 Prices HK$92 64 42 78 2018 Prices HK$96 66 54 74 VIDE AHT 10
The consumer price index (CPI) is a fixed-weight index. It compares the price of a fixed bundle of goods in one year with the price of the same bundle of goods in some base year. Calculate the price of a bundle containing 150 units of food, 40 units of utilities, 200 units of unexpected expenses, and 30 units of leisure activities in 2015, 2016, 2017, and 2018. Year 2015 is the base year. Prices of these goods for the years 2015, 2016, 2017, and 2018 are given below. Food Utilities Good Unexpected expenses Leisure activities Quantity Consumed 150 40 200 30 Using the information above, calculate the following: The price of the bundle in 2015 is HKS 2015 Prices 2016 Prices HK$80 45 32 76 HK$86 62 38 81 (Round your response to the nearest dollar.) 2017 Prices HK$92 64 42 78 2018 Prices HK$96 66 54 74 VIDE AHT 10
Chapter1: Making Economics Decisions
Section: Chapter Questions
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![The consumer price index (CPI) is a fixed-weight index. It compares the price of a fixed bundle of goods in one year with the
same bundle of goods in some base year.
price of the
Calculate the price of a bundle containing 150 units of food, 40 units of utilities, 200 units of unexpected expenses, and 30 units of leisure
activities in 2015, 2016, 2017, and 2018. Year 2015 is the base year. Prices of these goods for the years 2015, 2016, 2017, and 2018 are
given below.
Food
Utilities
Good
Unexpected expenses
Leisure activities
Quantity
Consumed
150
40
200
30
2015 Prices 2016 Prices
HK$80
45
32
76
HK$86
62
38
81
Using the information above, calculate the following:
The price of the bundle in 2015 is HK$ (Round your response to the nearest dollar.)
2017 Prices 2018 Prices
HK$92
64
42
78
HK$96
66
54
74
VIDE
AHT
10](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F15bca3e1-243f-46e1-9e3b-adf1df49127e%2F0e5b439a-5f36-4101-bc01-c7570ffc2898%2Fziql1p_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The consumer price index (CPI) is a fixed-weight index. It compares the price of a fixed bundle of goods in one year with the
same bundle of goods in some base year.
price of the
Calculate the price of a bundle containing 150 units of food, 40 units of utilities, 200 units of unexpected expenses, and 30 units of leisure
activities in 2015, 2016, 2017, and 2018. Year 2015 is the base year. Prices of these goods for the years 2015, 2016, 2017, and 2018 are
given below.
Food
Utilities
Good
Unexpected expenses
Leisure activities
Quantity
Consumed
150
40
200
30
2015 Prices 2016 Prices
HK$80
45
32
76
HK$86
62
38
81
Using the information above, calculate the following:
The price of the bundle in 2015 is HK$ (Round your response to the nearest dollar.)
2017 Prices 2018 Prices
HK$92
64
42
78
HK$96
66
54
74
VIDE
AHT
10
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